The Final Bell

6-8-21 *Weather will continue to be a focus *Grains close lower 1/2 of the trading range *Shipping issues in S.A. *Drought & cattle

6-7-21 • Warm temps-crop development • Strong ethanol margins, RIN value hot • Strong global demand • Brazil to China…huge exports of beans out of S.A. • Demand market with a weather component • Winter wheat took the lead overnight • Employment at the packer • Demand for beef for huge • Hogs have been on fire • Packers making, boxed beef & what producer is getting • Long term in the cattle industr...

6-4-21 • JBS Cyberattack • Cash market continues to limp along • Oversupply of cattle in Kansas & Texas • Demand is nothing short of outstanding • Customer wants to buy • Hogs are running on fumes • Blend of technical • Influence on the negative-building in the weather • Basis softening on the corn • Could see a run at the old highs for corn • Soybeans getting a head & shoulder feel

6-3-21 *How does the condition of the corn crop compare to past years? *Is the market concerned with the current weather conditions? *What are the main factors impacting this market at this time? *How does a weather market develop? *What stage in the weather market are we currently? *How is export demand holding up? *Is ethanol demand for corn doing okay?

6-1-21 • Planting progress on the beans • Freeze & weather issues • USDA crop ratings • Export inspections for corn remain strong, beans as well • Ethanol margins remain strong • JBS & cyber attack

5-31-21 On this special Memorial Day program PJ Conradt with Tredas looks at the markets going into the summer months.

5-28-21 *Is the high in for the grains? *Weather will continue to be an issue *Update on the Brazil 2nd crop *Dry drought pattern *Grain Basis *Livestock pressure

5-27-21 • Nice turn around in the grain markets • No real weather issues…so what does that mean for summer? • Volatility continues in the trade • No cancelations from China • Volume wasn’t as good as it was on Wednesday • Heading into a holiday weekend • Grain basis • Weekly exports numbers • Don’t change your thought process with these markets • What do we need for BPA in corn & beans?

5-26-21 • Eb & flow continues as we try to find value • China buying/looking rumors • Trading technical, need to look at long term fundamentals • Anticipated size of the U.S. crop • Grain purchases for China with ASF

5-25-21 • Just remember markets can go higher & lower than people think • Could we price in a big acreage number? • Weather market, but as we see it can rain in drought areas • What are the charts telling us? • Trading bearish-how long will it last? • Is there a chance to ride this out? • China tone with commodity prices • Secondary run in the markets? • Could we have seen the highs for the market...

5-24-21 Big break in the markets · Normal process of marketing’s in May for the bears · Tight supplies-does that worry you? · Ethanol margins improve slightly · End of the bull market has been over exaggerated · China purchases last week-what does the actions say? · Don’t rush to the exit to soon · After May Gov’t is moving away from buying dairy · Good time for livestock guys to get some good fee...

5-20-21 *What are the items that the market is the most concerned about? *Is the market still concerned about Brazilian corn? *Who will supply the corn that Brazil is short? *Are our export inspections doing okay? *How are exports sales doing? *Why is China buying so much corn? *Is the corn demand for ethanol holding up okay? *What do you think corn basis levels will do going forward? *Why has the...

5-19-21 *Everything is selling but the proteins *What is going on in the fundamentals? *Wheat tour is underway in KS *China buying are they done? *Brazil crop getting smaller *Feeder cattle & corn prices *Cow herd liquidation

5-18-21 *Soybeans testing the $16 level *China backs off soymeal bean ration *Winter Wheat Tour *China & corn purchases *Box beef & Carlot pork purchases

5-17-21 *Wheat trade & the weather *Corn exports with China & Mexico *Should we get an ethanol boost? *KS Railway & Canada purchase *Cattle weights coming down *ASF & China

5-14-21 *Soybeans are seeing some replants in the ECB *I-40 Bridge update *WASDE report jumped to the back seat *Struggle continued into a Friday for livestock

5-13-21 • The writing on the wall with how Monday corn traded • Selling the ag off is underway • WASDE didn’t have anything in there we weren’t looking for • Outside market trade • We did see corn & cattle rally off the day’s lows • Extreme difficult market to be a part of. • I-40 bridge closure

5-12-21 • WASDE Report • Feed wheat use • Weather • Livestock reacts to WASDE report

5-11-21 *WASDE Report out tomorrow *Uptrend in the markets *Planning for where we are going *Grain markets reaction from livestock

5-7-21 • Corn & beans end the week in positive • Beans pulled the corn & wheat along • Is wheat cheap? • Brazil’s corn crop-update on crop

5-5-21 • Rain is spotty • New corn numbers for Brazil • Wheat market continues to rise • Inflation the big factor • Difference dynamics with cattle & hogs • June Hog futures higher than June Cattle futures on Tuesday • Labor & Saturday kills • World is a better place now than a year ago

5-4-21 Struggle is real in the livestock trade How much more can this industry take? Will Mother's Day be factored into the beef movement? Coming out of the pandemic Commodity super cycle Turn around Tuesday Could we see a grain shortage come U.S. harvest time? Wheat market thoughts

5-3-21 What are the items that the market is the most concerned about? Why is the Safriha Corn crop such a concern this year? How does the US weather look overall? Are our export inspections doing okay? How are exports sales doing? Is the corn demand for ethanol holding up okay? What do you think basis levels will do going forward?

4-30-21 • Obscene volatility • We need to think factors including committing those bushels • What do late payments mean to the market trade (not from farmers) • Accumulators in the grain trade • Spread risks going into this growing season • Short a future call in your account-what next?

4-29-21 • Brazilian Real • Time for a grain market pause • Outperforming moves in rice & Mpls wheat • Weather, planting • South America is priced in • Big crop pressure in the U.S. • Cattle suffer from high feed prices • Hogs are topping • Dairy & feed prices